Japan’s 10Y bond yield just surged to 1.84%, the highest since 2008.
When yields rise, borrowing yen becomes expensive. Investors who used cheap yen to buy risk assets are forced to unwind their trades.
Result: global fear + more than $400M in leveraged longs liquidated.
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Japan’s 10Y bond yield just surged to 1.84%, the highest since 2008.
When yields rise, borrowing yen becomes expensive.
Investors who used cheap yen to buy risk assets are forced to unwind their trades.
Result: global fear + more than $400M in leveraged longs liquidated.